BTAQ Inventory: What to Know About Burgundy Technology and REE Vehicle SPAC Merger Rumors

InvestorPlace – Inventory Market News, Stock Guidance & Buying and selling Strategies Shares of blank-verify firm Burgundy Technology Acquisition (NASDAQ:BTAQ) are leaping in pre-market place buying and selling on Thursday. BTAQ stock was up as substantially as 4.5% as Nasdaq futures were being poised to direct the broader indices larger. […]

InvestorPlace – Inventory Market News, Stock Guidance & Buying and selling Strategies

Shares of blank-verify firm Burgundy Technology Acquisition (NASDAQ:BTAQ) are leaping in pre-market place buying and selling on Thursday. BTAQ stock was up as substantially as 4.5% as Nasdaq futures were being poised to direct the broader indices larger.

Resource: Pasuwan/ShutterStock.com

Followers of the special intent acquisition corporation (SPAC) could be focusing on Burgundy’s mention of Israeli corporations as possible targets in its research for an financial commitment in engineering or enterprise program.

It is enterprise software program where Burgundy’s administration group has background. Management consists of Leo Apotheker, the previous CEO of Hewlett-Packard Organization (NYSE:HPE) and SAP (NYSE:SAP). His co-CEO is Jim Mackey, also ex-SAP and BlackBerry (NYSE:BB).&#13

Potential BTAQ Inventory Targets

There is no scarcity of possible concentrate on acquisitions for Burgundy on the Israeli startup landscape subsequent its August initial community supplying that raised $345 million.

Just very last month, the shares of blank-check firm ION Acquisition (NYSE:IACA) surged on stories that the company was in talks to get electronic advertising firm Taboola. As for Burgundy, attainable providers of desire consist of social trading platform eToro and REE Automotive, which develops modular platforms for electric motor vehicles.

REE Automotive was claimed in late December to be in negotiations for a $3 billion to $4 billion Nasdaq SPAC merger. That was just two months after the startup introduced a video clip showcasing three prototypes of its future-era EV platforms: the P1 for past-mile, internal-town supply applications the P2, built to transport equally travellers and cargo and, the P4, customized designed for the North American marketplace delivery sector.

Poised to Obstacle Canoo?

Any one who has been viewing the EV current market of late will be familiar with Canoo (NASDAQ:GOEV), the battery-driven shipping truck platform that recently closed its merger with SPAC Hennessey Capital Acquisition Capital IV. GOEV inventory now has a $4.09 billion market capitalization.&#13

The similarities to REE Auto make for intriguing speculation for investors. The energy of Burgundy’s team that brought the SPAC IPO to current market is also notable.

Noteworthy adequate to make a wager on BTAQ inventory at this place?

That relies upon on your hazard urge for food. No doubt that SPACs are sizzling and possible to stay that way  for the around term. EVs? The upcoming is below. But do your due diligence. I suggest you begin with a appear at Matt Levine’s latest Dollars Stuff newsletter. He’s all in excess of the SPAC motion.

On the day of publication, Robert Lakin did not have (possibly instantly or indirectly) any positions in the securities stated in this post. 

InvestorPlace contributor Robert Lakin previously emerging marketplaces editor for Bloomberg Information in Tel Aviv. He is a veteran economical writer and editor, adhering to fintech, agtech and residence tech startups.&#13

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The submit BTAQ Inventory: What to Know About Burgundy Technologies and REE Auto SPAC Merger Rumors appeared initial on InvestorPlace.

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